Stümpges & Partner advised a highly profitable and well-situated, internationally-operating "Family" GmbH & Co. KG on optimisation of its gift and inheritance-tax structures. We developed a complex corporate succession plan that should serve as an essential basis for ensuring the ability of the company to survive.
Together with our network partners (experienced lawyers and notaries), we brought will structures/inheritance contracts and shareholders' agreements into line with the transaction. In this respect, account had to be taken of rights to compulsory portions and contracts between spouses.
Optimisation was also achieved through utilisation of personal tax-free allowances under the Inheritance Tax Act. In addition, gift tax was minimised through usufruct and legacy solutions. This required the obtaining of binding information from the tax authorities concerning the partial transfer of usufruct-encumbered real estate.
During implementation, the corporate assets were valued taking account of the rulings of the Valuation Law. Fiscally "privileged" corporate assets were created through restructuring, and the uncovering of "hidden reserves" avoided during the transfer (depreciation of carrying value).
Finally, corresponding gift-tax returns were prepared. The transaction was completed in December 2014 without gift-tax burdens.